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UK house prices show surprise fall in October: Halifax

Thursday, November 6, 2014 - 16:21

British house prices fell unexpectedly in October, adding to signs that the housing market is slowing and causing the annual rate of house price growth to fall to its lowest since June, mortgage lender Halifax said on Thursday.

PHOTO: REUTERS

[LONDON] British house prices fell unexpectedly in October, adding to signs that the housing market is slowing and causing the annual rate of house price growth to fall to its lowest since June, mortgage lender Halifax said on Thursday.

House prices dropped by 0.4 per cent in October compared to forecasts for a 0.4 per cent rise, and September's 0.6 per cent increase was revised down to 0.4 per cent.

House price inflation in the three months to October was just 0.8 per cent, the lowest since the three months to December 2012, and annual house price growth slowed more than expected to 8.8 per cent from 9.6 per cent.